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Major bank hikes variable rates

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Australian Broker | 22 Oct 2015, 03:37 PM Agree 0
The second major bank, following Westpac, has upped the standard variable rates for both owner occupied and investment loans
  • Regional Broker | 22 Oct 2015, 03:59 PM Agree 0
    Add this to their outrageous increase in the single living cost calculation of over $600.00 per month. They really are saying we are interested but only just!!
  • Jerry Gibb | 22 Oct 2015, 04:00 PM Agree 0
    Here is where the government should do a review. First Westpac now CBA gouge more money out of every day Australians to further boost there multi-billion profit and the Government allows them to do it. Meanwhile they talk about reviewing finance brokers commissions. What a joke I know what cost more it is a .15% rise in my mortgage interest over 20 to 30 yrs.
  • John | 22 Oct 2015, 04:03 PM Agree 0
    If this is not collusion, then I don't know what is? We are supposed to have competition? We have sheep, follow the leader.

  • Stephen Dinte | 22 Oct 2015, 05:11 PM Agree 0
    "Any decision to change interest rates is carefully considered."

    They consider how much they can get away with gouging from home loan borrowers under the guise of "maintaining capital adequacy".

    It will be interesting to see the profit levels of the majors (I am certain ANZ & NAB will follow suit) in 12 months. An increased level of profit will undoubtedly benefit the size of the bonuses paid to their senior executives.

    I believe that is what "they carefully consider"!
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